Swaps Venues Seek Clarity on Systems Requirements

Five weeks before new rules change how firms trade derivatives called swaps, operators of new trading platforms are at loggerheads over what plumbing their systems need, according to people familiar with the matter.

The new rules governing how swaps can trade start Oct. 2, giving industry participants little time to clear up any confusion about what they must do to comply. The deadline comes as glitches in equity markets, such as the three-hour Nasdaq Stock Market outage Aug. 22 and botched options trades at Goldman Sachs...